7 Under-$10 Stocks Racing Higher

DELAFIELD, Wis. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.

Alexza Pharmaceuticals ( ALXA)

This is a pharmaceutical company focused on the research, development and commercialization of novel proprietary products for the acute treatment of central nervous system conditions. This stock closed up 6.4% to $5.09 in Tuesday's trading session.

Tuesday's Range: $4.73-$5.10

52-Week Range: $3.78-$6.65

Tuesday's Volume: 712,000

Three-Month Average Volume: 231,402

From a technical perspective, ALXA soared higher here right above its 200-day moving average of $4.63 with strong upside volume. This move is quickly pushing shares of ALXA within range of triggering a major breakout trade. That trade will hit if ALXA manages to take out Tuesday's intraday high at $5.10 and then once it clears some major near-term overhead resistance at $5.52 with high volume.

Traders should now look for long-biased trades in ALXA as long as it's trending above its 200-day at $4.63, and then once it sustains a move or close above those breakout levels with volume that hits near or above 231,402 shares. If that breakout hits soon, then ALXA will set up to re-test or possibly take out its 52-week high at $6.65.

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